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: house republicans are of the debt ceiling - but with a stipulation the senate passes a budget inthe white house says it's ready to work towards something lasting. >> what we support is a long-term raising of the debt ceiling so that we don't have any doubt or uncertainty for businesses the simple proposition that pays its bills >> reporter: also on the president's radar in the next four years- comprehensive immigration reform. and in the aftermath of the in washington, i'm tory >> pam: beyonce.lip syncing the star spangled banner it could be perhaps because of the freezing cold temperatures and yesterday during the inauguration. >> jacqueline: hous and cooler temperatur. for the sierras, this is not going to permit much cold air but we're going to see rainfall at the highest elevations. dry conditions on thursday, friday but there's a chance for more rain this weekend. a look at your extended forecast and dry on thursday. the chance for showers it just a 30 percent chance. 40 percent chance on friday, the computer models are not quite in agreement of what could happen but we will k
's revolve has forced the republican's hand on the debt ceiling. and later in this hour, wayne lapierre, the lobbyist who makes sure that mass murderers have the most weapons, will make a statement in response to the president's inaugural address, in which of course the president said absolutely nothing about gun ownership or the second amendment. >> our conversation will look to vote on a measure tomorrow. >> the short term raise for the debt ceiling. >> three-month extension of the debt ceiling. >> temporary extending for debt ceiling. >> what is the republican strategy here? >> three months is not good enough. >> they may not even vote for this. >> it is about time we come together, do our work. >> the partisan lines just got deeper. >> john boehner has an 18% approval rating. >> the debt that is crushing the future for our kids. >> this is a party, a retreat. >> a retreat of sorts. >> they may not even vote for this. >> it really is unacceptable. >> they will evolve or die, it is that simple. >> it will stand out as one of the great days. >> today marks 40 years. >> the 40th anniver
. >> reporter: house republicans are expected to vote wednesday on a three- month extension of the debt ceiling - but with a stipulation the senate passes a budget in the next few months. the white house says it's ready to work towards something lasting. >> what we support is a long-term raising of the debt ceiling so that we don't have any doubt or uncertainty for businesses or the global economy about the simple proposition that the united states always pays its bills >> reporter: also on the president's radar in the next four years- comprehensive immigration reform. and in the aftermath of the newtown, connecticut school schooting - a push for congress to pass tighter gun control laws. in washington, i'm tory dunnan. >> pam: the california state university system says it needs about a quarter billion dollars more in state funding. than what governor brown is proposing in his latest budget. university officials say they need 371-million dollars for the upcoming academic year to pay for salary raises. maintenance and equipment. brown wants to give the 23- campus system 125-million extra. 10-mi
debt ceiling deal. the u.s. house of representatives gave the okay to a republican plan to suspend the debt limit until may 19. democrats in the senate now say they'll pass it too. darren gersh reports. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do. >> this bill simply says, "congress, do your job." when i grew up in wisconsin, if you had a job and you did the work, then you got paid. if you didn't do the work, you didn't get paid. it's that simple. >> house democrats called the pay ploy a gimmick and said a 90 day reprieve from default simply moves the crisis back. >> for the last two years, we've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling after a strategy session last week. worried that they have lost the public deba
that would suspend the debt ceiling for three months with only republican support. in an about-face, speaker boehner is taking up the democratic position and urging his party not to fight over the debt ceiling. could it be that the spirit of compromise is visiting boehner's rightward flank? no. here's the fine print. rather than raise the debt ceiling, the bill temporarily suspends it. meaning a vote will be held at some future point to determine whether to pay off the debt retroactively. secondly, this is a larger scheme to move the battle over the deficit and spending to a place where the republicans feel they have more leverage. the gop hashed plans for a republican revolution. politico report s speaker john boehner, using paul ryan as his salesman, urged his members to make their stand on the budget and sequesters. jake sherman writes, in roughly 48 hours, the republicans went from defense to offense and retreated to the debt ceiling must be matched by spending cuts. it was the swiftest and most drastic position switch in boehner's speakership. it was not lost on kevin mccarthy who said,
: house speaker john boehner said republicans were willing to suspend the debt ceiling for three months. sending democrats to act. >> it has been nearly four years since the senate has done a budget. most americans believe you don't do your job, you shouldn't get paid. that's the basis. no budget; no pay. it is time for the senate to act. >> reporter: the white house called the move by house republicans "significant," though the administration still argues a short-term extension of borrowing authority does not go far enough. >> what we support is a long- term raising of the debt ceiling so that we don't have any doubt or uncertainty for businesses or the global economy about the simple proposition that the united states always pays its bills. >> reporter: at a house hearing on the debt ceiling debate, simon johnson, a former chief economist for the i.m.f. warned the continuing controversy could roil global markets and hurt the u.s. at home. >> if you don't raise the debt ceiling now, or if you postpone this confrontation, if you say every 60, 90, or 100 days, we're going to again have t
. >> and republicans reached a deal on the debt ceiling but there's a catch. the latest from washington. coming up next. >> from the cbs 5 weather center, good afternoon, everyone. sure, we have some rain showers in and around the bay area. that's our live camera looking out towards mount vaca. the rain and how long it will stick around as eyewitness news continues right here on cbs 5. about to pay more the next time you mail. the u-s postal >>> hope you stocked up on forever stamps because if you didn't, you're about to pay more the next time you mail out. the u.s. postal service is upping the cost of a stamp by a penny this weekend. now it will cost 46 cents to send a letter. 33 cents for a postcard and for the first time ever, the postal service is going to start offering a global forever stamp for $1.10. >>> there is a truth in the battle over the debt limit. the house passed a bill that business the country another 4 months before default but the measure forces the senate to do something it hasn't done in four years. cbs news reporter randall pinkston expla
debt because if we don't get aa handleeon that nothing else matters.house republicans are expected tt vote wednesday on a three-monnh extennion of the debt ceiling - but with a stipuuation the senate passes a budget in the next few months.the white houue says it's ready to work towards something lasting.what we support is a long-term raising of the debt ceiling ssothat we don't have any doubt or the global economy about the simple proposition thattthe unitte states always pays its biilsalso on the ppesident's ccmprehensive immigration reform.and nnthe aftermath of the newtown, connecticut sshool schooting - a push for congress to pass tighter gun pontrol laws.in washington, i'm tory dunnan. 3 the presidenn mmy have a llt of convincing to do... if he wwnts his second--erm agenda to pass passright now...51--ercent off people apppove of the jjb he president is doing.43 perceet disapprove. disapprove....and president obbma...has the 3rd áworstá job approval ratiig for his first term......of any president after world war 2. the avvrage for his first teem w
republicans on the debt ceiling vote? guest: they want to make sure that they get some sort of deficit reduction out of this. i think it makes them a little nervous. this is what many will referred to as a clean vote on the debt ceiling, if they're not a lot of strings attached. they would like to see more deficit reduction. i think they are a little weary that leadership will follow through on their promises. so it is within that vein. i guess i would say that conservative lawmakers, at least the most conservative, wants to be cautiously optimistic that house leaders might follow through with this, but in some cases it still is not enough to get them to vote for the debt ceiling increase. host: seth, thanks for joining us. guest: thank you. host: we will be watching that vote today. our question is what is your advice to republicans as they enter the second obama administration. first let's look at a time line in the washington post. what the vote sets the stage for. unless congress acts, they will hit the debt limit in its very to late february according to estimates by groups like t
rd. there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president obama's inaugural address. speaking in reno, nevada, way waywayn wayne lapierre lashed out at one word from president obama. >> we cannot mistake absolutism, or treat name calling as reasoned debate. >> obama wants to turn the idea of absolutism into a dirty word, just another word for extremism. he wants you, all of you, and americans throughout all of this country, to accept the idea of principles as he sees fit. it's a way of redefining words so that commonsense is turned upside down and that nobody knows the difference. >> lapierre vowed not to give ground on gun control including effor
, the white house says they are going along with a debt ceiling deal proposed by the republicans, to vote on it tomorrow. i hope he's not needlessly anticipating success on the part of the republicans. your reaction? does it surprise you? >> no, it's floating for three months, right? then hit the barrier in three months ago. the inaugural drags, if you noticed, no olive branch here to everyone educational departing, besettle all scores. this four years, we settle all scores, stick it to the republicans, and everyone who said that i was not from this country, the birth is out there, they are taking this personally. it starts at the top. it's going to trickle down with every new jacket he's bringing in to the administration. it's personal. we settle the scores. that was the theme. >> i'm not going there, but as an american citizen, i'm sick and tired of the extension after extension after extension. if it was the private sector and were not getting it done, just pass the deadline, they would be firedded. this angers me so much. can we get a resolution to the issue? lou: do you agree? fire h
comes the cave. today, republicans in the house voted to suspend the debt ceiling. what about the hostage-taking? not this time. and remember all the usual bluster in those press conferences of theirs? today, the gop leaders ducked the press. only a few print reporters, boehner's camera man and a lone fox news camera were there to capture their comments in their entirety. huh? so why the sudden change? >> the full faith and credit of the united states of america is not a bargaining chip. we are not a deadbeat nation. >> they will not collect our ransom in exchange for not crashing the american economy. what i will not do is to have that negotiation with the american people. we're not going do do that. >> they're not going to do that. their once united front buckling. opposition health care? disintegrating. >> we cannot mistake absolutism for principle or substitute spectacle for politics or treat name calling as reasoned debate. [ applause ] we must act. we must act knowing that our work will be imperfect. >> this might not be the end of the gop's spectspectacle, but, at least
, charlie, that house republicans felt comfortable over the debt ceiling for now. >> thank you. and one of secretary of state hillary clinton's final appearances before stepping down could be one of the most contentious. clinton is on capitol hill right now giving her long awaited testimony today about the attack that killed four americans. margaret brennan is on capitol hill this morning. good morning. >> reporter: good morning to you. and secretary clinton will face harsh questions. she was unable to make previously scheduled testimony due to illness. in her opening statement, clinton's voice cracked as she recalled receiving the bodies of the u.s. personnel killed in benghazi. >>> clinton spoke about the progress made in fixing what investigators called saw stemmic failures, and drew a connection between the recent terror attack in al skwraeura and an assault. she'll also be pressed on whether there are connections between what happened in benghazi and the recent terror attack in algeria. now senate foreign relations committee john kerry will not take part in to
the debt ceiling until may 19. there are republicans saying they think they have the votes to pass this. there are no spending cuts as part of this. there are a number of republicans who want to increase the debt ceiling only at the congress passes a corresponding number of spending cuts. we have to watch this very closely and make sure it does reach that threshold. it is not necessarily 218. if everyone votes, it will be. if it does pass into the senate, harry reid says they will take it up and they will likely pass it as well. you have to get through this first. we will update you when and if we get there. melissa: another short-term solution. thank you so much. what did the administration know and when? hillary clinton in the hot seat today over the benghazi attack. lou dobbs will weigh in on that. lori: a mixed picture. we are back after this. ♪ >> at 21 minutes past the hour, i am patty and brown with your fox news minute. then yahoo! called early elections three months ago expecting and easy victory. the leader must now build a coalition after a strong showing by a new party. he
the republicans who are actually threatening not to raise the debt ceiling. in poker the only way a bluff can work, the only way it is credible if the other player actually believes you have a strong hand. but in the case of the republicans here we all know what would happen if they didn't raise the debt ceiling. it would be a total catastrophe. that bluff didn't make any sense at all. at least to their credit they're altering the ultimate solution. melissa: i couldn't disagree with you more. they could shut down the government. it has been done before. >> it is more than shuttings down the government if they don't raise the debt ceiling there are so many people expecting payments veterans, soldiers, the --. melissa: but they get to decide who they pay and they don't. they could decide to pay those people and -- >> a lot harder, very, very hard to decide who they pay and who they don't. logistics are total nightmare. there are billions upon billions of computerized payments. if you want to code it and figure out how you get money to certain people and not others that sound like a catastrophe. it c
in the battle over the debt ceiling. wednesday, house republicans are expected to pass legislation allowing the government to pay the bills for the next few months. republicans made clear that it was not the right thing to do, to play chicken with the full faith and credit of the united states. >> reporter: but this debt limit deal demands democrats in if senate do something 97 not done -- they have not done in nearly four years: pass a budget. >> we clearly near a budget. there hasn't been a budget in three and a half years. the debt has gone up $5 trillion since we had a budget in the senate. >> reporter: the g.o.p. initially wanted to use a vote on the debt limit to force democrats and the president to agree to more spending cuts. randall pinkston, cbs news, washington. >>> earlier in this newscast, we showed you a 49ers fan who tattooed his love for the team in vallejo tonight. now let's introduce you to nez adrian. he is the reno tattoo artist who incorporated colin kaepernick. he had kaepernick as a can vice since 2008 when he played for t
. the last time the house republicans played political games with the debt ceiling, august 20 11, our economy produced the lowest job growth in three years. during that two-month period, the dow jones plummeted 2,000 points including one of its worst single day drops in history, 635 points on, on august 8. s&p downgrade the u.s. credit rating for the first time in history. leading republicans in june, 2011, criticized the notion of a short-term debt ceiling increase as providing a lack of certainty. the majority leader said, i quote, we feel very strongly that one of the reasons we continue to see an ailing economy is that people have very little confidence, have very little senchity in terms of where we are headed, end of quote. and our ways and means chairman echoed that feeling only days later, saying about the prospect of a short-term debt ceiling increase, in quote, it does not give you certainty. this bill does not give certainty but uncertainty. the action we took new year's day to avoid the fiscal cliff brought our total deficit reduction over the past two years to $2.5 trillion. what
black. republican representative to tennessee. it extends the debt ceiling limit for another three months. welcome, good to have you with us. >> good to be with you, tyler. >> in the last few minute, chief washington correspondent, put out the idea that this vote, or this change of tactics, in the midst of the fiscal discussion, effectively may take the debt ceiling off the table as a bargaining chip. not just for this go round but going into the future. do you see it that way? is the debt ceiling no longer a legitimate tool for use? >> i think that that is exactly what we are doing and requiring that there will be a budget passed by the senate. obviously if you don't have a budget pass in four years now that democrat controlled senate has not passed a budget. you can't get to the point of talking about how you control your spending. we know that washington has a spending problem. this is a way that we can get them to do what they are stat torely required to do. so we are really hoping that this will make it so that they come up with a budget that we can actually talk about. >> so
-escalation on the debt ceiling issue. hence the president's second major win in a month and shows republicans are in full on retreat on fiscal policy. president obama has consistently said his refused to negotiate. his strategy is indicated republicans are backed up their threats to take the nation into default. the president spared on republicans. they blinked because they realized they didn't have the leverage they thought they would. this is the president's second big victory in a row coming after the new year's eve agreement that ended bush tax breaks for the wealthiest 2% of americans. gambling was the fault was never a sound plan. substantively we all know, markets now, this is though, americans know as playing with fire. politically it was a loser as well. americans had a bad taste in the mouth that could join christ in 2011. poll showed that the republicans back then it would have the him even more so. in recent weeks many conservative opinion makers have been warning republicans this is a losing fight. even senator cornyn was getting cold feet last week about the idea after initially sounding bu
even in short term the president will sign pinpoint >> the debt ceiling ought not to be a political football. >> reporter: this republican retreat with one last tanned if they can't compromise lawmakers' paychecks could take a hit. what's still not known is if this is temporary passing this budget and this extension of the debt limit. if it's temporary we could still see a credit downgrade. >> we hope that does not happen. tracie potts in washington, d.c., thanks you. >> jill kelley is peaking out for the first time after the scandal that forced petraeus to resign. they wrote an opinion piece in "the washington post" denying allegation against her saying she committed no crime. in part it reads our story stands as a cautionary tale. we have experienced how careless handle of our information by law enforcement and irresponsible headlines endangers private citizens. and the top u.s. commander in afghanistan was cleared of sending inappropriate emails to jill kelley. >>> senate majority leader harry reid appears to be reversing course and pushing ahead with possible gun legislation. af
have your battering rams ready for the president? the debt ceiling bustup to come. the republicans making clear they'll fight him all the way on that. i get a sense the president can be as bold and audacious as he wants in this inaugural speech yesterday but you guys aren't going to let him get away with very much. >> he has two problems. one is the republicans won the house of representatives. boehner was elected leader of the house as much as the president was elected to run the executive branch. so he can't pass something through congress without getting a republican house. he has another problem, that's a democratic senate. 20 democrats are up for re-election in 2014. they're not as left wing as he is. they certainly didn't get elected in states as democrat and blue as obama did. so he's asking those guys to go out in front on his tax policies, his spending policies. remember, he just signed to make permanent 85% of the bush tax cuts in dollar terms, 99% of the bush tax cuts in terms of who was affected. these are tax cuts the democratic party has run against for 12 years as a
with it. coming up, house republicans have a plan for the debt ceiling. they may want to be careful what they wish for. next, what was once considered the best investments out there not performing. we take a look get next. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells you after the fact,
tomorrow, the boehner ruled but not applied dollar for dollar cuts for the debt ceiling the guided republicans in the last two years or decades and every system that flags for me. i think it's not republicans that are looking for relatives. i think his washington as a whole looking for relevance. we're running trillion dollars deficit is and would be the fifth straight year. the reality is s&p's downgraded. midis has sent the notice and we are still at the nsa's it's still 1995 where we are running dollars deficit. i hope it's not the case, but in the meantime all these games trying to figure out we frequent the, america's sunday aaa -- worthy of aaa rating. that's the serious reality. i hope that doesn't happen, but i don't know how but we can continue to go on. i don't think we have 10 years to somehow find a path to balance. we need to move my quick read. our mission to assessed the question, is very ten-year balanced-budget proposal in their and i don't know the answer. we don't have the numbers from the cbo, but our leadership has to have committed to that, different answers f
has tacitly endorsed a house republican plan to lift the debt ceiling for the next four months. the measure would lift enforcement of the government's $16.40 trillion borrowing limit until may 18. in a statement, the white house said it would not oppose the temporary move. a house vote is expected today. protests on both sides of the reproductive rights debate were held on tuesday to mark the 40th anniversary of roe v wade, the supreme court decision that legalized abortion. dozens of opponents rallied outside the supreme court's ahead of what they say will be a larger march near capitol hill on friday. meanwhile in jackson, mississippi, abortion rights advocates held a demonstration outside of the state's lone abortion clinic which has faced repeated threats of closure. a new poll coinciding with the fourth anniversary shows national support for abortion rights is at an all-time high. a record 70% of americans oppose overturning roe v wade, and for the first time on record, a majority now believes abortion should be legal in all or most cases. two people are in custody after a
, today republicans in the house are expected to vote on a plan that's going to defuse the debt ceiling crisis at least temporarily. republicans are planning to offer legislation that will suspend the enforcement of the federal debt limit for at least three months, allowing the government to keep borrowing money to pay for all of its current obligations. in exchange, the house gop'ers want the democratic-controlled senate to do something they haven't done in 1,365 days, pass a budget. something that body hasn't done since 2009. now, instead of demanding spending cuts, republicans have added a provision to the bill that would suspend lawmakers' own paychecks if their chamber fails to pass a budget by april 15th. that's a lot like actually the no labels, no budget, no pay plan that that organization's been dealing with, talking about for a long time. michael steele, i think that's a great idea. >> i do, too. >> if you don't do your job -- >> why get paid for it? >> and the democrats in the senate haven't done their job in that many days, why pay them? >> i don't think you should. in fact,
's debt ceiling through may 19. that vote is set for tomorrow. congressman paul ryan, last year's republican vice presidential nominee, said today republicans want to shift the focus to enacting a budget, with major spending cuts. the senate is going on four years now for not having passed a budget. we think this gives us the time we need in this nation to have a good, thorough vigorous and honest debate about what it takes to get our fiscal house in order and about how to budget. families budget. businesses budget. our federal government should budget. >> ifill: the bill also says if lawmakers don't enact a budget with spending cuts, they won't be paid. in the senate, democratic majority leader harry reid declined to comment on that provision, but he did say that, in general, he welcomes the house move. >> i'm very glad that they sent us up a clean... they're going to send us a clean debt ceiling bill. the other stuff on it will athat when we need to. i'm glad we're not facing crisis here in a matter of a few days. >> sreenivasan: president obama said he wanted a longer-term ex
the debt ceiling until may 19, then resetting the cap to cover any borrowing over the current limit-- $16.4 trillion. and for now, republicans will not force immediate spending cuts. the party's new strategy would achieve that goal by forcing congress to pass a budget. house budget committee chair-- and last year's vice presidential nominee-- paul ryan. >> here's the point, we have a law, it's called the budget act, it requires that congress passes a budget by april 15. all we're saying is, "congress, follow the law, do your work, budget. and the reason for this extension is so we can have the debate we need to have." >> ifill: as added incentive, the house bill says, if there is no budget, then lawmakers won't get paid. after it passed today by a bipartisan vote of 285 to 144, speaker boehner said he's optimistic that will happen. >> if both chambers have a budget. democrat budget from the senate, republican from the house now you've got competing visions, for how we address this problem. out of those competing visions, we're going to find some common ground. >> ifill: but house minority
of news. there is word of what may be a break through in the standoff over the so-called debt ceiling. the point where our nation can no longer pay its bills. house republicans are set to vote tomorrow on a temporary fix, which would raise the federal spending limit. now the white house says it won't stand in the way of that: even though the president says he would rather see the problem fixed once and foreall. the g.o.p. measure would buy us only a few months before congress would have to agree to a long-term solution. a second part of the proposal would force lawmakers in both houses of congress to pass a budget or they wouldn't even get paid. that's the g.o.p. attempt to force the senate's hand the democratic led senate hasn't passed a budget in four years now. mike emanuel son the top story at the bottom of the hour. live with us from the row rotuna on capitol hill. mike, house republicans meeting behind closed doors late today. have we heard anything? >> well, shep, some conservatives don't love this debt ceiling deal because they don't like the idea of adding to the nation's cr
will sign it. >> the debt ceiling ought not to be a political football. >> reporter: this republican retreat with one last stand. if they can't compromise, lawmakers paychecks could take a hit. here's what we still don't know, even if they do pass that temporary extension, what about the budget? could america's credit still see a downgrade? mara? >> something tells me having their paychecks on the line might motivate them. >>> on capitol hill, secretary of state hillary clinton will appear before congress later this morning to testify about the september 11th terrorist attack in bengahzi, libya. clinton will answer questions from the senate and house foreign relations committees about the handling of the attack on a u.s. consulate that killed four americans. clinton had been unable to testify previously because she was recovering from the stomach flu and concussion. clinton will go into the hearings debt free. she has finally paid off the outstanding $12 million debt from her 2008 presidential campaign. >>> jill kelly is speaking out for the first time since her name was mentioned in the sca
the debt ceiling for three months, the president would not stand in the way. in the past, the obama administration has not embraced the idea of a short-term extension. >>> police investigating a shooting at a texas college that left three people injured, it happened at the lone star college just north of houston. authorities say it started with an argument between two men that escalated into gunfire. a student said chaos broke out quickly after. >> we heard shots, and automatically we saw students running. and we went under our desks. our teacher shut down the lights and we tried to take cover. >> both men were shot as well as a college employee caught in the cross fire. that employee is listed in stable condition. police did detain the two men. campus and several nearby schools were put on lockdown for hours. school will be back in session tomorrow, though. >>> california's approach to dealing with mental illness could be a model for the entire nation. that's the message state senate leader darrell steinberg took to washington today. he met today with aides to vice president joe bi
the debt ceiling until may 18. included in that, two caveats. the senate has to come up with a budget, which they haven't since 2009. did you know that that was before the ipad was created. the chevy volt, bieber fever, and instagram. it's about time the senate actually comes up with a budget. also incorporated into this is if they don't, then members of congress would not get any dough. their paychecks would be suspended. >> steve: speak of dough, gretch, joining us right now, did you realize today is national pie day? we've got the owner of grand traverse pie company in michigan. look at that. we've made animation for you. good morning to you. >> good morning, steve, how are you? >> steve: how many pies do you think you've made since 2009 when they last passed a budget in the senate? >> oh, boy. we've made few hundred thousand pies. i think we've done our work. now we need others to do their work. >> steve: you actually do work with the dough, where the dough is real, unlike funny dough. >> yeah. and the thing is, you combine cherries and blueberries and you get a compromise of the
to davos today. >> reporter: yeah. so the republicans are going to vote on suspending the debt ceiling which is lot of people think it's a good idea to do forever. they won't have much opposition with that. and cantor with a conessional delegation, they'll come over to davos, he'll be in a panel on friday, and we'll talk to him when he gets here about the budget, about the debt ceiling debacle in the united states and about whether or not america with sort of capture this economic dinahism that you say talk about so much in the face of all of these problems going on in washington, the congress and inability to get anything done. can we actually overcome that and have a great year. >> all right. ali velshi? davos. thank you. so nice to see you. so interesting, too, they talk about how the future will not be a u.s. and europe led world. it's china, india, some of these emerging markets. they talks about the next 100 year, not necessary lit next quarter. >>> high drama below ground. coming up, the race to save a woman who falls on to the subway tracks. [ construction sounds ] ♪ [ watch
they won the round because the debt ceiling will go up in may. without offsetting spending cuts. republicans counter getting the senate democrats to agree to a budget by april means for the first time in four years congress may be able to show some degree of real fiscal discipline. bret? >> bret: thank you. senate majority leader harry reid hopes to get a deal done soon with republicans over new filibuster rules. they want to require senators to be present when they filibuster. republicans are resisting that. reid hinted he may use the so-called nuclear option to change the rules, with a simple majority of 51 votes instead of the usual two-third. the dow continued its momentum, up for a fourth day if a row today. industrial average gained 67. to reach the highest closing value since halloween of 2007. the s&p 500 finished ahead two. the nasdaq increased 10-1/2. we will hear from the chairman of the house foreign affairs committee a bit later. up next, why you are giving a powerful weapon to enemy of a friend. [ male announcer ] ok, here's the way the system works. let's say you
and the tea party group they fund has come out against using the debt ceiling as leverage rather than holding it hostage. and yet the republican congress is still in turmoil over whether this is the right thing to do. i was fascinated by mrs. the bill suspends the debt ceiling decision until may. miller's comments regarding the escrow and whether or not interest would be undertaken. i was looking at the 401k maneuver for $150 billion taken out of the 401k plan of congress and the federal employees. and the first thing that came to my mind is, if you are going to take $150 billion out and i don't have many money over there, but you don't get interest. it ain't but a nickel, but a penny and somehow or another that seems to be a problem here as well. but being out of sight doesn't mean being out of mind. and the republicans can't will away our national responsibilities just because it conflicts with the ideology of your more extreme members. i imagine come may, my friends on the other side will find another loophole that allows them to pay off the debt ceiling for another three months. we emerge
for a temporary lift to the debt ceiling. the house is expected to approve legislation on wednesday that would raise the debt limit for three months without any cuts to spending. members of the congress believe they can come up with a spending plan during that window. honda of campbell also introduced legislation for a back up plan that would prevent the worse fiscal cliff. >> i think we should have a process that addresses that so that it doesn't become a barrier or a political football. >> the last time lawmakers fought over the debt ceiling two years ago the country's credit rating was downgraded. >>> on wall street, stocks closed higher despite mixed earnings. >>> president obama began the first day of his second term with a traditional postinaugural prayer service. the president and first lady were joined by vice president biden and his wife at the washington cathedral this morning. the national prayer service dates back to the first inauguration of george washington. the interfaith service included prayers and readings from christian denominations along with islam, judisim and the sikh r
republicans pushed through a bill to extend the debt ceiling and tying congressional pay to passage of the budget. senate majority leader says he is okay with it. outgoing defense secretary leon panetta is changing policy to allow women to serve in front line combat positio positions. we'll get a live update for the pentagon. your tax dollars are sending f-16 planes to egypt despite anti-semattic comments made by egypt's new leader. busy day on "special report" at 6:00 eastern but now back to "the five." ♪ ♪ >> bob: you were saying? >> dana: so, greg, almost just caused a problem on the show. >> greg: no, i didn't. >> dana: yes, you did. wow! he doesn't know the words to that song and he was making them up. there is a certain word that rhymes with "truck" he was going to sing. i was supposed to talk about facebook and social media how it can be a blessing and a curse. we talk about this the other day. so, remember back in high school, if you found out that your friend invited another friend go to an event but you didn't necessarily know about it right away. it wasn't rubbed in y
republicans in june, 2011, criticized the notion of a short-term debt ceiling increase as providing a lack of certainty. the majority leader said, i quote, we feel very strongly that one of the reasons we continue to see an ailing economy is that people have very little confidence, have very little senchity in terms of where we are headed, end of quote. and our ways and means chairman echoed that feeling only days later, saying about the prospect of a short-term debt ceiling increase, in quote, it does not give you certainty. this bill does not give certainty but uncertainty. the action we took new year's day to avoid the fiscal cliff brought our total deficit reduction over the past two years to $2.5 trillion. what's more, it set the stage for future further balanced agreements that include both spending cuts and new revenue. we should proceed with that effort, not plunge into further uncertainty. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves. the gentleman from smch recognized. mr. camp: i yield myself 15 seconds to say, standard and poor's downgraded
strong. now interesting note on the republicans. on the other hand they caved on the debt ceiling. so why did they cave on the debt ceiling. we have an expert on that. i think that's really interesting, and what do they plan to do on the budget fights instead. and then there is an unbelievable documentary on how wall street got away with clear criminal action. it's a devastating story. i can't wait to share it. >> jennifer: all right. cenk uygur "young turks" at the top of the hour. thanks, cenk. >> thank you. >> jennifer: now we're going to turn to a story about equality. located in the nation's capitol, washington national cathedral is the sixth largest cathedral in the world, and the second largest in the united states. it was built in 1792. it is magnificent. it has hosted many important events. it is also a place where local d.c. resident goes to pray and baptize their children and get married. and now for the first time in the institution's more than 200-year history, gay couples can officially get married at the cathedral too. here to tell us about this exciti
republicans briefed reporters on a vote on the debt ceiling. the house will vote wednesday on a measure that will occur -- extend the debt limit until may 19. included is a provision that if congress fails to pass a budget by april 15, lawmakers salaries will be held in escrow. this is 10 minutes. >> good afternoon. good evening. >> hard-working taxpayers understand that they have to balance their budgets from every week to every month. they also believe it's time for washington to balance its budget. over the last four years, house republicans have offered plans. our budget plans. we have done our budgets, but it's been nearly four years since the senate has done a budget. most americans believe if you don't do your job, you shouldn't get paid, that is the basis for no budget, no pay. it's time for the senate to act. chairman paul ryan has worked hard with the budget committee to outline the kind of reforms we would put in place to bring real fiscal responsibility here in washington. and the american people understand that you can't continue to spend money that you don't have. it's tim
the debt ceiling for three months in exchange for passing a budget. >> it's time for us to come to a plan that will, in fact, balance the budget over the next ten years. >> reporter: today, white house press secretary jay carney indicated the president would not oppose a short-term solution. now, the battles begin in earnest tomorrow when the house is expected to vote on the debt ceiling bill and when secretary of state hillary clinton will face some tough questions from congressional committees when she appears before them to talk about the terrorist attack in benghazi. brian? >> kristen welker on the white house north lawn tonight, thanks. >>> late word tonight that top u.s. commander in afghanistan, general john allen, has been cleared of engaging in any inappropriate behavior regarding his e-mail exchanges with the woman from tampa, jill kelley. this case came to light originally as part of the petraeus affair. and an investigation was launched. >>> the u.s. state department confirms today three americans were indeed killed during that four-day hostage standoff in algeria. seven ameri
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